Keeping interest rates stable is:
A. a key goal, because stable interest rates will result in all other goals being achieve
B. not a goal of the central bank.
C. a secondary goal for central banks.
D. the most important goal for a central bank.
Answer: C
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If (PVB/PVC)for a given policy option equals 5.5, this means that
a. the policy option is not feasible b. for every dollar of incremental costs incurred by society, there are $5.50 in realized incremental benefits c. the policy option is feasible d. both (b) and (c) are correct
Use the following table to answer the question below. Dave's Production Possibilities ScheduleSimon's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn0160080201204060408080406040120208001600Who has the comparative advantage in the production of corn?
A. Simon B. Dave C. Both D. Neither
Normative economics answers the question, "What ought to be?" Positive economics predicts the consequences of alternative actions, answering the questions, "What is?" or "What will be?"
Indicate whether the statement is true or false
The accountant for Muzhi's Sushi claims that Muzhi has accomplished "economic efficiency." This means that Muzhi's Sushi
A) produces a given output using the least inputs. B) produces a given output at the lowest cost. C) has an economic profit greater than a normal profit. D) has a normal profit greater than an economic profit.